BEARISH

08.05.11

Wall Street Slumps Again

Spencer Platt / Getty Images

Despite an initial flurry of gains following a better-than-expected jobs report Wall Street remained in a slump on Friday after Thursday’s losses. The Dow Jones fluctuated, tumbling from a triple-digit gain at the opening bell on continuing fears of a double-dip recession in the U.S. and a bleak future for the euro zone. “There’s still a recovery but it’s teetering on the edge,” said Robin Marshall, a London investment manager. The jobs gain of 117,000, while stronger than expected, was not enough to put a serious dent in the unemployment rate, which still stands above 9 percent.